Founder of jewelry company in Azerbaijan talks sale of gold and silver jewelry sets

Founder of jewelry company in Azerbaijan talks sale of gold and silver jewelry sets

BAKU, Azerbaijan, Feb. 20

By Sadraddin Agjayev – Trend:

Irs Traditional Jewellery has been operating in the jewelry and sales market for 23 years, Founder of the company Eduard Shamaryaev said in an interview with Trend.

Shamaryaev spoke about the current plans on the development and expansion of the sales market, as well as disclosed the information about the company's sales volumes for 2019.

"Jewelry is sold directly in stores. Online sales on Facebook and Instagram have intensified over the past two years. This is a very convenient method from an economic point of view that does not require personnel to conduct sales operations,” founder of the company added.

"We sell up to five jewelry sets on online platforms per day,” founder of the company said. “To attract customers on online platforms, we use advertisement by spending an average of $300 a month. Such advertising is repaid. It is possible to get profit worth $500-600 manat as a result of spending $10.”

“Presently, we have two stores, but we plan to open several more stores in Ganjlik Mall and 28 Mall within a few months," Shamaryaev said.

“The company also gives its jewelry for resale to other stores and organizations,” founder of the company said.

"We began to cooperate with the National Carpet Museum in 2015 and up till now we successfully cooperate,” he said. “Our net profit reaches 10,000-15,000 manat ($5,882-$8,823). Moreover, we also cooperate with ABAD supporting family businesses, which sells our jewelry in Baku and Azerbaijani districts. On average, ABAD sells about 600 jewelry sets per year while the net profit from sales is 25,000-30,000 manat ($14,705-17,677) per year. The sales volumes increase for several reasons, including a seasonal influx of tourists, as well as various holidays.”

While speaking about plans, Shamaryaev stressed that the company plans to enter the foreign markets in 2020.

"The plans for 2020 allow us to predict the sales volume growth in Azerbaijan and to enter the foreign market,” Shamaryaev said. “Jewelry collections will be created from this year for selling to Turkey, Russia, Italy and France. This will take several years but we are already working on this.”

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